Why does Einhorn still believe in Marvell Technology? After breaking down what billionaire David Einhorn and Greenlight Capital is betting on for 2013 it is time to look at why he is still a big believer of Marvell Technology (NASDAQ: MRVL). Per Greenlight's fourth quarter 2012 letter to investors, the hedge fund managed to return 4.9% during the fourth quarter. Since inception in 1996, Greenlight has managed to return an annualized 19.4% net of fees.

Einhorn admits that Marvell was the hedge fund's biggest loser in 2012, having fallen from $13.85 to $7.26. Yet, the stock has recovered some of this in 2013, now trading around $9.50. Putting the pressure on the stock has been earnings under-performance and a verdict that will require Marvell to pay out some $1 billion to Carnegie Mellon University for patent infringement.

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